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Loans & Mortgages

Variable and fixed rate personal loans are available, upon approval, for almost any worthwhile purpose - including but not limited to cars or trucks, home improvements, debt consolidations, furniture, education, medical, travel, computers, down payments, etc.

Life and disability insurances are available at a reasonable added cost. Personal loans are generally completely open - repayment can be made in advance without penalty. A few exceptions may apply.

Flexible terms are available from 1 month to five years. Payment frequency to suit you: monthly, half-monthly, bi-weekly or weekly.

Brand New Cars can be financed in the traditional way with a five year loan. If you're looking for payments similar to a lease, you can consider our Two and Five year loan plan, a plan which may bring monthly payments in line with most lease plans.

Line of Credit Loans and Authorized Overdrafts

The credit union offers pre-authorized overdrafts; as an alternative we also provide overdraft protection through an automatic line of credit facility which is triggered when you write a cheque or make a withdrawal without funds- creating a line of credit loan. These services must be pre-arranged. Lines of credit are more economical than most credit cards.

Meritline Loans - Firsts and Seconds

Long term conventional financing on residential properties, certain income properties, and cottages. Fixed and variable rate terms are available with repayment programs to suit your budget. Optional mortgage life insurance is also available and we can handle your property taxes for you.

High Ratio Mortgages

The credit union also offers high ratio mortgages to qualified home owners, including the 95% program guaranteed by Canada Mortgage and Housing Corporation.

Meritline Home Equity Line of Credit

This is probably the most convenient way to manage your borrowing needs over a long term. Members with equity in their homes can use that equity to establish borrowing capability that can be triggered by writing a cheque. One time approval and set-up is required.